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Simple English definitions for legal terms
Rural Business-Cooperative Service
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A quick definition of Rural Business-Cooperative Service:
Rural Business-Cooperative Service: A part of the U.S. Department of Agriculture that helps people in rural areas start and grow businesses. They give money to public groups and individuals to help them develop their businesses. We can call it RBS for short.
A more thorough explanation:
Rural Business-Cooperative Service
The Rural Business-Cooperative Service (RBS) is a government agency within the U.S. Department of Agriculture that provides loans and grants to public agencies and private parties to help develop businesses in rural areas.
- A small town in rural America wants to start a new business, but they don't have enough money to get it off the ground. They apply for a loan from the RBS to help cover the costs of starting the business.
- A farmer in a remote area wants to expand their farm and start selling their products to nearby towns. They apply for a grant from the RBS to help fund the expansion and marketing of their business.
The examples illustrate how the RBS provides financial assistance to individuals and organizations in rural areas to help them start or expand their businesses. The loans and grants provided by the RBS can help cover the costs of equipment, marketing, and other expenses that may be too expensive for rural businesses to afford on their own. By providing this support, the RBS helps to promote economic growth and development in rural communities.